TNK-BP

Reference Material on TNK-BP

With British Prime Minister Tony Blair and President Vladimir V. Putin looking on, BP and Russia's TNK formed a 50-50 joint venture in 2003. The ceremony may have been the company's high water mark. The only oil company with partial foreign control, TNK-BP may be excluded from developing new fields under national security rules. TNK-BP, led by chief executive Robert Dudley, has resorted to concentrating on its huge inventory of older oil fields - something others didn't want to touch. Still, the company was built around a model of bringing BP technology to boost output at these assets and has succeeded in that; production grew from 1 million barrels a day to 1.4 million in 2004. ANDREW E. KRAMER (NYT)

March 22, 2013, Friday

By next year, Rosneft will be the largest publicly traded oil company in the world. But even its partnerships with some of the world's leading oil companies may not be enough to save Russian production levels.